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2022
Exports $1.52BWorld Rnk 17 / 221
Flag Rnk 33 / 96
2022
Destination $24M China
2021 - 2022
FASTEST GROWING MARKET $24MVietnam
2022
PRODUCT COMPLEXITY IN Miscellaneous edible preparations0.054Rnk 531 / 1025
2022
Imports $2.29BWorld Rnk 9 / 226
Flag Rnk 36 / 96
2022
Origin $54.8M United States
2021 - 2022
FASTEST GROWING ORIGIN $54.8MGermany
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $1.52B in Miscellaneous edible preparations, making it the 17th largest exporter of Miscellaneous edible preparations in the world. At the same year, Miscellaneous edible preparations was the 33rd most exported product in South Korea. The main destination of Miscellaneous edible preparations exports from South Korea are: China ($245M), United States ($217M), Japan ($179M), Vietnam ($119M), and Russia ($94.8M).

The fastest growing export markets for Miscellaneous edible preparations of South Korea between 2021 and 2022 were Vietnam ($24M), United States ($19.3M), and Israel ($9.34M).

Imports In 2022, South Korea imported $2.29B in Miscellaneous edible preparations, becoming the 9th largest importer of Miscellaneous edible preparations in the world. At the same year, Miscellaneous edible preparations was the 36th most imported product in South Korea. South Korea imports Miscellaneous edible preparations primarily from: United States ($871M), China ($262M), Germany ($189M), New Zealand ($137M), and Japan ($104M).

The fastest growing import markets in Miscellaneous edible preparations for South Korea between 2021 and 2022 were Germany ($54.8M), New Zealand ($30.2M), and China ($26.1M).

COMPANIES In 2023, leading companies such as LG Electronics (189), Nexen Tire (142), and Samsung (20) were at the forefront of shipping Miscellaneous edible preparations from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Miscellaneous edible preparations exports accounted up to $129M and imports accounted up to $223M, resulting in a negative trade balance of $94.8M. Between September 2023 and September 2024 the exports of South Korea's   Miscellaneous edible preparations have decreased by $-8.68M (-6.32%) from $137M to $129M, while imports decreased by $-21.6M (-8.83%) from $245M to $223M.

Destinations In September 2024, Miscellaneous edible preparations were exported mostly to China ($24.1M), United States ($16M), Japan ($14.2M), Vietnam ($10.8M), and Russia ($6.98M), and were imported mostly from United States ($94.4M), China ($23.1M), Germany ($20.5M), Japan ($9.02M), and Canada ($8.2M).

Growth In September 2024, the decrease in Miscellaneous edible preparations's year-by-year exports was explained primarily by a decrease in exports to United States ($-4.66M or -24.4%), Malaysia ($-2.12M or -44.7%), and Indonesia ($-1.34M or -17.1%). In September 2024, the decrease in Miscellaneous edible preparations's year-by-year imports was explained primarily by a decrease in imports from Germany ($-8.06M or -35.9%), Australia ($-3.26M or -39.5%), and Malaysia ($-1.58M or -28.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-8.68M(-6.32%)
IMPORT GROWTH (September 2023 - September 2024)$-21.6M(-8.83%)
MAIN DESTINATION (September 2024)China$24.1M

This section shows Miscellaneous edible preparations's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Miscellaneous edible preparations over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.52B
IMPORTS (2022)$2.29B
NET TRADE (2022)-$768M

In 2022, South Korea exported $1.52B in Miscellaneous edible preparations. The main destinations of South Korea exports on Miscellaneous edible preparations were China ($245M), United States ($217M), Japan ($179M), Vietnam ($119M), and Russia ($94.8M).

In 2022, South Korea imported $2.29B in Miscellaneous edible preparations, mainly from United States ($871M), China ($262M), Germany ($189M), New Zealand ($137M), and Japan ($104M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Miscellaneous edible preparations EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$24M (25.1%)
United States$19.3M (9.77%)
Israel$9.34M (33.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Miscellaneous edible preparations BY South Korea WERE (2021 - 2022):
Malaysia-$17.1M (-30.4%)
Japan-$11.3M (-5.91%)
Hong Kong-$7.33M (-12%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Miscellaneous edible preparations were:
United States $11.2B
Germany $7.99B
Singapore $6.98B
In 2022, South Korea's main importing competitors in Miscellaneous edible preparations were:
United States $12.8B
Germany $4.98B
United Kingdom $4.04B

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Trade Value of Miscellaneous edible preparations by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $65.6M
TOP IMPORT POTENTIALChina+ $86.1M

Miscellaneous edible preparations’s highest export potential is China. With an export gap of $65.6M.   Miscellaneous edible preparations’s highest import potential is China with an import gap of $86.1M.

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